KudoZ home » English to Arabic » Business/Commerce (general)

Whitewash

Arabic translation: جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية

Advertisement

Login or register (free and only takes a few minutes) to participate in this question.

You will also have access to many other tools and opportunities designed for those who have language-related jobs
(or are passionate about them). Participation is free and the site has a strict confidentiality policy.
GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
English term or phrase:Whitewash
Arabic translation:جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية
Entered by: Mohamed Moez
Options:
- Contribute to this entry
- Include in personal glossary

12:23 Apr 24, 2008
English to Arabic translations [PRO]
Law/Patents - Business/Commerce (general)
English term or phrase: Whitewash
The ‘Whitewash’ is an English legal process whereby a company (and its subsidiaries) targeted for takeover, gives financial assistance to the purchaser, as their assets are used as security against any secondary debt financing facility.



What is a whitewash?
Mohamed Moez
Qatar
Local time: 22:48
جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية
Explanation:
from http://en.wikipedia.org/wiki/Financial_assistance

"In law, financial assistance refers to assistance given by a company for the purchase of its own shares or the shares of its holding companies"

"Laws against financial assistance are sometimes controversial because of the difficulties they can cause in the context of a leveraged buyout, and some jurisdictions which have enacted them have later repealed them.[5] Some jurisdictions provide for so-called "whitewash" procedures[6], whereby the shareholders can authorise transactions that would otherwise be void for financial assistance. "

from http://www.uaeec.com/vb/archive/index.php/t-28605.html
قانون الشركات التجارية تجد ما يلي :
المادة «119»


عدم جواز تقديم المساعدة المالية لتملك الأسهم


لا يجوز للشركة المساهمة أو أية شركة قابضة أو تابعة لها تقديم مساعدة مالية لتمكين أي شخص من تملك أية أسهم أو أي أوراق مالية أخرى تصدرها الشركة.


وتشمل المساعدة المالية ما يأتي:


أ ـ تقديم قروض حتى لو كانت بدون فوائد.


ب ـ تقديم الهدايا أو الهبات.


ج ـ إصدار سندات قرض.


د ـ تقديم أصول الشركة كضمان.


هـ ـ تقديم ضمان أو كفالة لالتزامات شخص آخر.

بهذا يكون جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية الاخرى هو
whitewash
Selected response from:

Khalid Nasir
Iraq
Local time: 22:48
Grading comment
4 KudoZ points were awarded for this answer

Advertisement


Summary of answers provided
4 +1جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية
Khalid Nasir
4تبرئة أو تمويهDoaa El Seify
4تزيين الواجهة
Mohsin Alabdali


Discussion entries: 1





  

Answers


7 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
whitewash
تزيين الواجهة


Language variant: تبييض "وش" (القوائم المالية) الشركة

Explanation:
It is easy to be mystified by the use of this term by lawyers and accountants when discussing share purchases. ‘Whitewash’ is a colloquial term referring to the approval of the provision of financial assistance by a company for the purchase of the shares in the company. Some examples will help:

1) An investor wishes to purchase all of the shares in a company (the Target) but does not have sufficient cash available to fund the purchase. The investor then obtains a loan for all or some of the purchase price on condition that security is provided for this loan. The security is made up of the assets of the Target. The Target is therefore providing financial assistance for the payment of the purchase price for the shares by giving assets as security.

2) Another situation frequently encountered is in management buyouts. The management would typically be short of funds whilst the company would be asset rich. The management would, through the vehicle of a newly incorporated company, purchase the shares of the Target using funds raised by means of a loan secured by the assets of the Target. The Lender would take a debenture over the assets of the Target.

3) A third example would be circumstances where the Target company is cash rich and simply grants a loan to the company wishing to purchase the shares of the Target. The financial assistance would be the loan.

The ‘whitewash’ is required because the general rule of UK company law is that the provision of financial assistance by a company to assist in the purchase of that company’s shares is unlawful. The ‘whitewash’ procedure overcomes this illegality, because provided all of the necessary formalities are complied with and requirements satisfied, the financial assistance may be lawfully given.

The reason for the unlawfulness of the financial assistance is to ensure that creditors are protected against an unlawful reduction in the assets of the company. The basic premise is that creditors are entitled to know that the share capital of the company will be maintained.



Example sentence(s):
  • http://www.eurojuris.net/eng/article-detail.asp?ArticleId=223
Mohsin Alabdali
Saudi Arabia
Local time: 22:48
Works in field
Native speaker of: Native in ArabicArabic
PRO pts in category: 56
Notes to answerer
Asker: جزاك الله خير يا أستاذ محسن على هذه الترجمة. اعتقد أنها أقرب شيء للمعني المراد.

Asker: ولكني مازلت متردد في استخدامها!

Login to enter a peer comment (or grade)

15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
whitewash
تبرئة أو تمويه


Explanation:


--------------------------------------------------
Note added at 19 mins (2008-04-24 12:42:23 GMT)
--------------------------------------------------

ويمكن أيضاً ترجمتها "تغطية

--------------------------------------------------
Note added at 21 mins (2008-04-24 12:44:20 GMT)
--------------------------------------------------

3. whitewash - exonerate by means of a perfunctory investigation or through biased presentation of data
acquit, assoil, exculpate, exonerate, discharge, clear - pronounce not guilty of criminal charges; "The suspect was cleared of the murder charges"

http://www.thefreedictionary.com/whitewash

Doaa El Seify
Canada
Local time: 13:48
Specializes in field
Native speaker of: Arabic
Notes to answerer
Asker: "التغطية" في مجال الترجمة الاقتصادية تشير إلى معنى مختلف. أما بالنسبة "للتبرئة أو التمويه" فجزاك الله خيرا على الاجتهاد، ولكن أرجو منك أن تعطني مرجعا عربيا (ايا كان نوعه) لهذه الترجمة

Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
whitewash
جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية


Explanation:
from http://en.wikipedia.org/wiki/Financial_assistance

"In law, financial assistance refers to assistance given by a company for the purchase of its own shares or the shares of its holding companies"

"Laws against financial assistance are sometimes controversial because of the difficulties they can cause in the context of a leveraged buyout, and some jurisdictions which have enacted them have later repealed them.[5] Some jurisdictions provide for so-called "whitewash" procedures[6], whereby the shareholders can authorise transactions that would otherwise be void for financial assistance. "

from http://www.uaeec.com/vb/archive/index.php/t-28605.html
قانون الشركات التجارية تجد ما يلي :
المادة «119»


عدم جواز تقديم المساعدة المالية لتملك الأسهم


لا يجوز للشركة المساهمة أو أية شركة قابضة أو تابعة لها تقديم مساعدة مالية لتمكين أي شخص من تملك أية أسهم أو أي أوراق مالية أخرى تصدرها الشركة.


وتشمل المساعدة المالية ما يأتي:


أ ـ تقديم قروض حتى لو كانت بدون فوائد.


ب ـ تقديم الهدايا أو الهبات.


ج ـ إصدار سندات قرض.


د ـ تقديم أصول الشركة كضمان.


هـ ـ تقديم ضمان أو كفالة لالتزامات شخص آخر.

بهذا يكون جواز تقديم المساعدة المالية لتملك الأسهم والاوراق المالية الاخرى هو
whitewash

Khalid Nasir
Iraq
Local time: 22:48
Works in field
Native speaker of: Native in ArabicArabic
PRO pts in category: 8
Notes to answerer
Asker: Thank you.


Peer comments on this answer (and responses from the answerer)
agree  esperantiste
20 hrs
  -> Thanks esperantiste
Login to enter a peer comment (or grade)




Return to KudoZ list


KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.



See also:



Term search
  • All of ProZ.com
  • Term search
  • Jobs
  • Forums
  • Multiple search